The Foreign Account Tax Compliance Act is fundamental as it affects how you report your finances, especially as an expat abroad. FATCA is why you may need to file a Report of Foreign Bank and ...

Certain individuals who have only signature authority over foreign financial accounts now have until April 15, 2022 to file the Report of Foreign Bank and Financial Accounts. In Notice 2020-1, FinCEN ...

A district court granted summary judgment against a taxpayer, enabling enforcement of civil penalties for nonwillful failure to timely report his financial interest in certain foreign bank accounts.

Those who choose to keep money in foreign banks may need to file a Report of Foreign Bank and Financial Accounts Report (FBAR). The FBAR is a tool used by the federal government to identify persons ...

US citizens living overseas face increasingly strict requirements for reporting foreign financial accounts. The Foreign Bank Account Report (FBAR) and the Foreign Account Tax Compliance Act (FATCA) ...

Many tax professionals are experiencing clients coming out of the woodwork this year to discuss foreign bank accounts and what they should do about them. The clients have become concerned about ...

What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations. The United States Department of Treasury is again sharpening its sword upon ...

The Financial Crimes Enforcement Network is allowing some extensions and exemptions to its new requirements that all FineCEN reports be filed electronically starting July 1, 2012, while pushing back ...